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12025 Richmond Ave, Houston...

TruAmerica Multifamily Acquires Multifamily Property In Houston With Broker David Mitchell
SOLDMultiFamily

TruAmerica Multifamily Acquires Multifamily Property In Houston With Broker David Mitchell

12025 Richmond Ave, Houston, TX, USA

Building Size

Asset Type

MultiFamily

Closing

Nov 23, 2021

AI

The recently closed transaction in Houston involved a multifamily property located at 12025 Richmond Ave & 2700 Woodland Park Dr. The property consists of 652 units and was sold on 11/23/2021. The buyer of the property was TruAmerica Multifamily. The deal was facilitated by broker David Mitchell from Newmark. No additional details about the property or the transaction were provided.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: Not specified
  • Market: Houston
  • Units: 652

The transaction involved the buyer, TruAmerica Multifamily, who acquired the multifamily property located at 12025 Richmond Ave & 2700 Woodland Park Dr in Houston. Assisting in the transaction was broker David Mitchell from Newmark. No additional information about the buyer, seller, or any other individuals or companies involved in the deal was provided.

Players

Ryan Greer

CBRE

Broker

$664.5M

vol

9 deals

Broker
TruAmerica Multifamily
TruAmerica MultifamilyBuyer

Houston MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93